“The monopoly problem mankind has to face today is not an outgrowth of the operation of the market economy. It is a product of purposive action on the part of governments. It is not one of the evils inherent in capitalism as the demagogues trumpet.“- Ludwig von Mises, Human Action

purposive- Having, serving, or done with a purpose.

So, what is a monopoly? How do they exist? Are they bad? Praxgirl‘s series continues as we define the term and see if it fits into our understanding of a free market economy.

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About Christopher Hessenflow

Christopher Hessenflow is a financial planner in the Chicago area. He works with all sorts of people who are much more interesting than he is. He enjoys his career which lends him time to think and, sometimes, be creative. Chip was born bald.